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Reuters

Falling sales in Burberry's Hong Kong market will not deter the British luxury brand from its commitment to one of its most profitable regions, it said.
Pro-democracy protests in the city, which accounts for around 10 per cent of Burberry's total retail and wholesale sales gathered pace last year, keeping mainland tourists away.
The 159-year-old firm said Hong Kong comparable store sales fell by a double-digit percentage in the three months to June 30, its fiscal first quarter.
Shares in Burberry, already down 9 per cent over the last three months after a cut in profit guidance in May, fell up to a further 3.7 per cent, to be the top FTSE 100 faller, despite the group maintaining most of its guidance.
"We manage the business for the long term, always looking through that lens," said chief financial officer Carol Fairweather. "All of those (Hong Kong) stores remain profitable and so no change to strategy."

Watch: Hong Kong knocks Burberry results
However, Fairweather said that as leases on its 17 Hong Kong stores came up for renewal Burberry might push for lower rents if sales falls persisted.
She said Burberry was focusing on local Hong Kong customers with specific marketing initiatives, while keeping a tight control of costs.
The stock was down 26 pence at 1,595 pence, valuing the business at £7 billion (HK$84 billion).
"The near term will be challenging due to currency volatility and weakness in Hong Kong and China," said Sohil Chotai, an analyst at Edison Investment.
Burberry's Asia-Pacific region as a whole posted a low single-digit percentage comparable sales decline, though mainland China grew by a low single-digit percentage.
The firm continued to see growth from mainland tourists in all markets other than Hong Kong. Chinese shoppers account for 30 per cent to 40 per cent of Burberry's global revenue.
Fairweather said Burberry was mindful of the possible impact of recent turmoil in the Chinese stock market but was focusing "on what we can control".
Overall Burberry posted first-quarter retail sales up 8 per cent to £407 million, below analysts' average forecast for £414 million and below the 13 per cent growth recorded in the second half of Burberry's 2014-15 year.


Burberry remains committed to Hong Kong despite sales slowdown

Burberry plans to focus on local customers with specific marketing initiatives, while keeping a tight control of costs. Photo: SCMP Pictures

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Falling sales in Burberry's Hong Kong market will not deter the British luxury brand from its commitment to one of its most profitable regions, it said.


Burberry remains committed to Hong Kong despite sales slowdown

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Falling sales in Burberry's Hong Kong market will not deter the British luxury brand from its commitment to one of its most profitable regions, it said.

Falling sales in Burberry's Hong Kong market will not deter the British luxury brand from its commitment to one of its most profitable regions, it said.